Question 1 (19 marks) a. The performance of the fund over the past 1-year period from the 14th of September 2020 to the 13th of September 2021 is presented in the figure below. Based on the figure and given information, which of the following best describes the type of fund TFX: open-end fund/index fund, close-end fund, or exchange traded fund (ETF). Please explain your answers. (6 marks) Fund TLW Performance -NAV - Share Price 25.00 20.00 15.00 Value of Fund's shares 10.00 5.00 0.00 14/09/2020 23/11/2020 5/02/2021 20/04/2021 30/06/2021 10/09/2021 Date Over the past 1-year period, this fund had a portfolio turnover ratio of 10%